Aaron Carter's estate struggles: massive debts leave his son with almost nothing

Aaron Carter's estate is facing significant financial turmoil two years after his untimely death. Official documents from the late singer's probate case reveal that his assets fall drastically short of covering his overwhelming tax liabilities and other debts, leaving little for his sole heir, son Princeton Lyric Carter.

The administrator of Carter's estate disclosed that the pop star, who passed away at age 34 in November 2022, left behind $241,000 in tax debts to the IRS and the State of California. According to the filings, the estate has been deemed "insolvent," with no feasible way to pay off these growing obligations.

A financial breakdown of Aaron Carter's estate

Despite Carter's reported assets totaling $810,547 at the time of his death, attorney fees and payments to prioritized creditors have significantly reduced the amount. Notable debts include $77,312 owed to the State of California and $164,116 to the IRS, spanning multiple tax years. These debts continue to accumulate interest and penalties, compounding the estate's financial woes.

Additional claims included $2,800 owed to Wells Fargo, which was settled, and a $19,000 claim from another creditor, which was dismissed due to insufficient estate funds.

What's left for Aaron's son?

Carter's 2-year-old son, Princeton, was named the sole beneficiary of the estate. However, given the financial state of affairs, there is little of value to transfer to him. Items such as Carter's car collection, including a leased Cadillac Escalade and a Bentley Continental, were either repossessed or determined not to belong to the estate.

Efforts to liquidate assets, including auctioning personal belongings and selling Carter's Lancaster, California home, yielded minimal returns. Combined profits from these sales amounted to just $21,000.

Legal disputes and family challenges

Carter's family remains entangled in legal matters related to the estate. His brother, Nick Carter, issued a subpoena earlier this year seeking access to electronics owned by Aaron at the time of his death, though the reasons remain unclear.

Additionally, Carter's former fianc?e, Melanie Martin, filed a wrongful death lawsuit against the late singer's doctors, alleging negligence. The doctors have denied any wrongdoing, and the case is ongoing.

Aaron Carter's tragic story serves as a stark reminder of the complexities surrounding estates and unresolved debts, even for celebrities. For his family, the financial and emotional fallout continues to loom large.